NFJ Investment Group LLC Trims Stock Position in PDD Holdings Inc. (NASDAQ:PDD)

NFJ Investment Group LLC trimmed its holdings in PDD Holdings Inc. (NASDAQ:PDD) by 15.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 10,341 shares of the company’s stock after selling 1,961 shares during the quarter. NFJ Investment Group LLC’s holdings in PDD were worth $1,003,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Nisa Investment Advisors LLC purchased a new stake in shares of PDD in the fourth quarter worth about $39,000. Brooklyn Investment Group lifted its holdings in PDD by 340.3% in the fourth quarter. Brooklyn Investment Group now owns 524 shares of the company’s stock valued at $51,000 after acquiring an additional 405 shares during the period. Global Retirement Partners LLC boosted its position in PDD by 939.6% in the 4th quarter. Global Retirement Partners LLC now owns 551 shares of the company’s stock worth $53,000 after purchasing an additional 498 shares in the last quarter. Farther Finance Advisors LLC grew its stake in shares of PDD by 30.9% during the 4th quarter. Farther Finance Advisors LLC now owns 559 shares of the company’s stock worth $54,000 after purchasing an additional 132 shares during the period. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of PDD by 43.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 825 shares of the company’s stock valued at $80,000 after purchasing an additional 249 shares in the last quarter. 39.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on PDD. Nomura reissued a “neutral” rating and set a $130.00 price target (down from $137.00) on shares of PDD in a report on Thursday, March 20th. Jefferies Financial Group lowered their target price on shares of PDD from $171.00 to $156.00 and set a “buy” rating on the stock in a research note on Thursday, March 20th. JPMorgan Chase & Co. upped their price target on PDD from $105.00 to $125.00 and gave the stock a “neutral” rating in a report on Friday, March 21st. Benchmark reissued a “buy” rating and issued a $160.00 price objective on shares of PDD in a report on Friday, March 21st. Finally, Nomura Securities cut PDD from a “strong-buy” rating to a “hold” rating in a research report on Friday, March 21st. Five research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $169.91.

PDD Stock Up 1.5 %

PDD stock opened at $93.69 on Friday. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.02. The firm has a 50-day moving average of $115.04 and a two-hundred day moving average of $113.42. PDD Holdings Inc. has a 12 month low of $87.11 and a 12 month high of $164.69. The company has a market cap of $128.91 billion, a price-to-earnings ratio of 9.15, a PEG ratio of 0.32 and a beta of 0.73.

PDD Company Profile

PDD Holdings Inc, a multinational commerce group, owns and operates a portfolio of businesses. It operates Pinduoduo, an e-commerce platform that offers products in various categories, including agricultural produce, apparel, shoes, bags, mother and childcare products, food and beverage, electronic appliances, furniture and household goods, cosmetics and other personal care, sports and fitness items and auto accessories; and Temu, an online marketplace.